Domestic gold price today

Domestic gold prices fluctuated slightly this morning and remained at around 67 million VND/tael. Currently, the domestic precious metal prices are listed specifically as follows:

SJC gold price in Hanoi and Da Nang is currently being bought at 66.5 million VND/tael and sold at 67.12 million VND/tael. In Ho Chi Minh City, SJC gold is still being bought at the same price as in Hanoi and Da Nang but sold at 20,000 VND lower.

Domestic gold prices fluctuated slightly this morning. Photo: VNA

DOJI brand gold price in Hanoi is listed at 66.5 million VND/tael for buying and 67.1 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought at the same price but sold at 100,000 VND lower than in Hanoi.

Phu Quy SJC gold price is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling. PNJ gold is listed at 66.6 million VND/tael for buying and 67.15 million VND/tael for selling. Bao Tin Bao Tin Minh Chau gold is listed at 66.52 million VND/tael for buying and 67.08 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 18 as follows:

Yellow

Area

Early morning June 17

Early morning June 18

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measure:

Million VND/tael

Unit of measure:

Thousand dong/tael

DOJI

Hanoi

66.55

67.15

66.5

67.1

-50

-50

Ho Chi Minh City

66.5

67

66.5

67

-

-

Phu Quy SJC

Hanoi

66.45

67.05

66.45

67.05

-

-

PNJ

Ho Chi Minh City

66.6

67.15

66.6

67.15

-

-

Hanoi

66.6

67.15

66.6

67.15

-

-

SJC

Ho Chi Minh City

66.55

67.15

66.5

67.1

-50

-50

Hanoi

66.55

67.17

66.5

67.12

-50

-50

Danang

66.55

67.17

66.5

67.12

-50

-50

Bao Tin Minh Chau

Nationwide

66.57

67.13

66.52

67.08

-50

-50










World gold price today

The gold market had a relatively active week, affected by many important economic events and data. However, at the end of the trading week, gold was almost unchanged compared to the closing price of the previous trading session.

The gold market has been relatively stable in June, trading between $1,940 and just under $2,000 an ounce. But analysts warn that after weeks of sideways prices, gold is ready for a more significant move.

That move could go either way, according to precious metals expert Everett Millman of Gainesville Coins. “Gold has been trading sideways long enough that we’re primed for a bigger move in one direction or the other — a retest of $1,880 an ounce or a return to around $2,000 an ounce,” Millman said.

The Fed confused markets on Wednesday when it decided to pause interest rate hikes but left open the possibility of two more hikes. "What the Fed did was neutral for gold. The pause was good for gold, but it was the most hawkish pause we've seen. That's why gold has been trading sideways," Millman explained.

Gold is holding firm against the Fed’s warning of two rate hikes, said Edward Moya, senior market analyst at OANDA. At a press conference following the rate decision, Fed Chairman Powell did not commit to a rate hike in July, saying the US central bank’s decision would remain data-dependent.

Analysts say the market is now pricing in another rate hike in July, and if that changes, gold will react. Meanwhile, gold investors are paying close attention to macro data, the dollar’s ​​moves and central bank gold purchases, which slowed in the second quarter.

World gold price this morning is above 1,950 USD/ounce. Photo: Kitco

Looking back at gold's performance over the past two years, Millman warned that gold is still at risk of facing a significant sell-off in the coming period.

Markets are looking ahead to Chairman Powell’s two-day testimony before the House and Senate next week, remarks from Fed officials, and macro data. Many believe that the upcoming macro data could have a big impact on the market, as Powell has previously said the Fed’s next move will depend on the data.

“Gold is still looking for confirmation that the Fed is done hiking and/or a negative catalyst for the USD. The data will become more sensitive and important in the July meeting where another rate hike seems certain,” said Nicky Shiels, head of metals strategy at MKS PAMP.

With domestic gold prices fluctuating slightly and world gold prices anchored at 1,958.2 USD/ounce (equivalent to nearly 55.8 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is currently over 11 million VND/tael.

TRAN HOAI